Calculate expected move

[indiciatorhead]

# Define input parameters
input period = "Daily";
input expiration = 1;

# Calculate implied volatility
def vol = ImpVolatility(period, expiration);

# Calculate expected move
def price = close;
def move = price * vol;

# Plot expected move
plot expectedMove = move;
expectedMove.SetDefaultColor(GetColor(7));
expectedMove.SetLineWeight(2);

# Add labels and formatting
AddLabel(yes, Concat("Expected Move: ", move), color = GetColor(7));
AddVerticalLine(Expiration(), color = GetColor(7), style = Curve.SHORT_DASH);

 

[halcyonguy]

# Define input parameters
input period = "Daily";
input expiration = 1;

# Calculate implied volatility
def vol = ImpVolatility(period, expiration);

# Calculate expected move
def price = close;
def move = price * vol;

# Plot expected move
plot expectedMove = move;
expectedMove.SetDefaultColor(GetColor(7));
expectedMove.SetLineWeight(2);

# Add labels and formatting
AddLabel(yes, Concat("Expected Move: ", move), color = GetColor(7));
AddVerticalLine(Expiration(), color = GetColor(7), style = Curve.SHORT_DASH);

there are several things wrong.
i think the main thing is, you are not looking up the functions, so you don't know what are valid parameters for them.

i changed some things and have it plotting a line. not sure if it is what you expected.
added notes in the code to describe what is going on


valid agg period names
https://tlc.thinkorswim.com/center/reference/thinkScript/Constants/AggregationPeriod

imp_volatility ( symbol, period, priceType);
https://tlc.thinkorswim.com/center/reference/thinkScript/Functions/Fundamentals/imp-volatility

AddVerticalLine ( visible, text, color, stroke);
https://tlc.thinkorswim.com/center/reference/thinkScript/Functions/Look---Feel/AddVerticalLine

# expect_move_fix_00

#https://usethinkscript.com/threads/can-someone-please-help-correct-this-thanks.13742/
#can someone please help correct this? thanks
# indiciatorhead  12/17


# added this , to plot on a lower chart
declare lower;


# Define input parameters

# this is wrong. daily is not a valid period name
#input period = "Daily";
input period = "Day";
input expiration = 1;



# Calculate implied volatility
# wrong, ImpVolatility(p)   is a study, that has no parameters
#def vol = ImpVolatility(period, expiration);

# Imp_Volatility()  is a function that has 3 parameters.
# imp_volatility ( symbol, period, priceType )
# but expiration is not a parameter
def vol = Imp_Volatility(period = period);


# Calculate expected move
def price = close;
def move = price * vol;

# Plot expected move
plot expectedMove = move;
expectedMove.SetDefaultColor(GetColor(7));
expectedMove.SetLineWeight(2);

# Add labels and formatting
AddLabel(yes, Concat("Expected Move: ", move), color = GetColor(7));



# wrong , expiration isn't a function, so can't be used as the visible parameter
# there isn't any dates , so don't know where an expiration comes from
# there is no text defined
# not sure when this is to be drawn
# AddVerticalLine(Expiration(), color = GetColor(7), style = Curve.SHORT_DASH);


# ----------------------------------
# test stuff

#plot z = 0;

input show_bubbles = no;
addchartbubble(show_bubbles, move*0.999 ,
vol + " vol\n" +
move + " mov"
, color.yellow, no);

#

these might help give you some ideas

try loading this study
https://tlc.thinkorswim.com/center/...studies-library/O-Q/ProbabilityOfExpiringCone

take a look at this one
https://usethinkscript.com/threads/expected-move-probability-cone-for-thinkorswim.10891/#post-98640

 

[delasol79]

there are several things wrong.
i think the main thing is, you are not looking up the functions, so you don't know what are valid parameters for them.

i changed some things and have it plotting a line. not sure if it is what you expected.
added notes in the code to describe what is going on


valid agg period names
https://tlc.thinkorswim.com/center/reference/thinkScript/Constants/AggregationPeriod

imp_volatility ( symbol, period, priceType);
https://tlc.thinkorswim.com/center/reference/thinkScript/Functions/Fundamentals/imp-volatility

AddVerticalLine ( visible, text, color, stroke);
https://tlc.thinkorswim.com/center/reference/thinkScript/Functions/Look---Feel/AddVerticalLine

# expect_move_fix_00

#https://usethinkscript.com/threads/can-someone-please-help-correct-this-thanks.13742/
#can someone please help correct this? thanks
# indiciatorhead  12/17


# added this , to plot on a lower chart
declare lower;


# Define input parameters

# this is wrong. daily is not a valid period name
#input period = "Daily";
input period = "Day";
input expiration = 1;



# Calculate implied volatility
# wrong, ImpVolatility(p)   is a study, that has no parameters
#def vol = ImpVolatility(period, expiration);

# Imp_Volatility()  is a function that has 3 parameters.
# imp_volatility ( symbol, period, priceType )
# but expiration is not a parameter
def vol = Imp_Volatility(period = period);


# Calculate expected move
def price = close;
def move = price * vol;

# Plot expected move
plot expectedMove = move;
expectedMove.SetDefaultColor(GetColor(7));
expectedMove.SetLineWeight(2);

# Add labels and formatting
AddLabel(yes, Concat("Expected Move: ", move), color = GetColor(7));



# wrong , expiration isn't a function, so can't be used as the visible parameter
# there isn't any dates , so don't know where an expiration comes from
# there is no text defined
# not sure when this is to be drawn
# AddVerticalLine(Expiration(), color = GetColor(7), style = Curve.SHORT_DASH);


# ----------------------------------
# test stuff

#plot z = 0;

input show_bubbles = no;
addchartbubble(show_bubbles, move*0.999 ,
vol + " vol\n" +
move + " mov"
, color.yellow, no);

#

these might help give you some ideas

try loading this study
https://tlc.thinkorswim.com/center/...studies-library/O-Q/ProbabilityOfExpiringCone

take a look at this one
https://usethinkscript.com/threads/expected-move-probability-cone-for-thinkorswim.10891/#post-98640

Can this be an upper chart plotting arrows at the peak levels calculated by x number of bars ago or by x number minutes, hours, days, etc ago?